AnandRathi
AnandRathi (NSE: ARSSBL) is a Mumbai-based, publicly listed Indian financial services group offering equity broking, derivatives, mutual funds, IPOs, PMS, MTF, insurance, and NBFC services across digital platforms and a 2,500+ Authorised Person network to retail, HNWI, NRI, and institutional clients.
- Company typePublic
- Founded1991
- HeadquartersMumbai, India
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What AnandRathi does
Anand Rathi Share and Stock Brokers Ltd. (NSE: ARSSBL) is a publicly listed Indian diversified financial services group founded in 1991, headquartered in Mumbai, with operating presence across India and dedicated NRI and IFSC (GIFT City) channels. The group operates through six wholly-owned subsidiaries covering wealth management (Anand Rathi Wealth), investment banking and research (Anand Rathi Advisors), insurance broking, NBFC lending (Anand Rathi Global Finance), international ventures (Anand Rathi International Ventures IFSC), and digital wealth (AR Digital Wealth).
The core product is a multi-platform digital brokerage ecosystem comprising TradeMobi (mobile app), TradeXpress (web), AR Invest (mutual funds), and Algozy (algorithmic trading), spanning equity, derivatives, mutual funds (5,000+ schemes), IPOs, PMS, AIF, MTF, commodity, currency, fixed income, and insurance. The technology stack integrates SEBI-registered research, TradingView-powered charting, and WhatsApp-delivered research content, with a parallel assisted channel of 2,500+ Authorised Persons and referral partners.
Revenue is generated through transaction-based brokerage, margin trading interest income (MTF book of Rs 1,331.8 crore in Q1 FY27, +55% YoY), mutual fund and IPO distribution fees, NBFC interest income, PMS/AIF management fees, and insurance commissions. The customer base exceeds 6 lakh registered clients across Retail, HNWI, Institutional, and NRI segments. Q1 FY27 consolidated revenue reached Rs 246.10 crore (+22.37% YoY) with non-brokering revenue growing 43.20% YoY and AUM at Rs 9,479.1 crore (+26% YoY), indicating successful diversification beyond pure trading volumes.
AnandRathi firmographics
Firmographics- Name
- AnandRathi
- Legal name
- Anand Rathi Share and Stock Brokers Ltd.
- Website
- https://anandrathi.com
- Company type
- Public
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- AnandRathi (NSE: ARSSBL) is a Mumbai-based, publicly listed Indian financial services group offering equity broking, derivatives, mutual funds, IPOs, PMS, MTF, insurance, and NBFC services across digital platforms and a 2,500+ Authorised Person network to retail, HNWI, NRI, and institutional clients.
- Ownership category
- akta.pro rank
AnandRathi industry classification
Industry- Product category
- Stock Brokerage & Wealth Management
- NAICS
- Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)
- akta.pro secondary industries
- Fixed Income Brokerage (Bonds) (FSAEACAJ), Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)
Keywords
Where AnandRathi is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
AnandRathi business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Brokerage & Trading Revenue: Commissions and brokerage fees from equity, derivatives (F&O), commodity, and currency trading executed on Indian exchanges (BSE, NSE, MSEI, MCX, NCDEX) through its retail and institutional client base. Revenue is transaction-based, earned per trade executed.
- Margin Trading Facility (MTF): Interest income from providing leveraged funding to clients against securities collateral. MTF book expanded 55% YoY to Rs 1,331.8 crore in Q1 FY27. A key non-brokering revenue driver growing at over 43% YoY.
- Mutual Fund Distribution & Advisory: Revenue from distributing 5,000+ mutual fund schemes across equity, debt, hybrid, and other asset classes. Also includes portfolio management services (PMS) and investment basket products.
- IPO & New Issues Distribution: Fees and commissions from IPO distribution, including acting as book-running lead manager for equity offerings such as the Indo-MIM IPO and TMC Transformers IPO.
- Net Interest Income: Interest income generated from client funds and margin funding operations. Core income rose 47% YoY in Q1 FY27.
- Fixed Income & Bonds Distribution: Distribution of fixed income products including bonds and fixed deposits, NCDs (Non-Convertible Debentures) as seen in their own Rs 500 crore NCD raising programme.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Default 'Great Plan' with free account opening for first year and Rs 450+GST AMC from second year onwards. |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
AnandRathi product offering
Product offeringCore offering
Anand Rathi Share and Stock Brokers Ltd. is an Indian financial services firm offering equity and derivatives broking, mutual fund distribution (5,000+ schemes), IPO distribution and book-running, Portfolio Management Services (PMS), Alternative Investment Funds (AIF), Margin Trading Facility (MTF), Investment Baskets, fixed income, commodity trading, insurance broking, and NRI investing. These services are delivered through proprietary platforms (TradeMobi, TradeXpress, AR Invest, Algozy, AR MF), a 2,500+ Authorised Person partner network, and SEBI-registered operations across BSE, NSE, MSEI, MCX and NCDEX.
Product overview
AnandRathi operates as a comprehensive financial services and stock brokerage platform offering a unified platform-plus-modules architecture. The core offerings include equity trading via TradeMobi (mobile app), TradeXpress (web platform), and AR Invest, complemented by derivatives, mutual funds (5000+ schemes), IPO investments, portfolio management services (PMS), alternative investment funds (AIF), margin trading facility (MTF), investment baskets, fixed income, commodity trading, insurance, and NRI investing services. Algozy provides algorithmic trading capabilities. The platform integrates research-backed insights, advanced trading tools, and multiple investment product categories into a single ecosystem.
Differentiator
Problem solved
Functional benefit
Brands
- TradeMobi: Mobile equity trading application
- AR Invest
- TradeXpress
- Algozy
- AR MF
- Finshala
- AR Finshala
Products and services
- TradeMobi Mobile equity trading application providing real-time market data, advanced charting, expert-backed research and an easy-to-use interface for retail and active investors on Android and iOS.
- TradeXpress
- AR Invest
- Algozy
- Mutual Funds Platform
- IPO Platform
- Portfolio Management Services (PMS)
- Alternative Investment Fund (AIF)
- Margin Trading Facility (MTF)
- Investment Baskets
- Equity Broking
- Derivatives Trading
- Fixed Income (Bonds & FDs)
- Commodity Trading
- Insurance Distribution
- NRI Investing
Quantifiable outcome
- Revenue growth of 22.37% YoY to Rs 246.10 crore in Q1 FY27
- +4 more outcomes
Companies that use AnandRathi
Customer profileSegments4 records
Ideal customer profiles4 records
AnandRathi technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
AnandRathi partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- eMudhra LimitedminoreMudhra Limited, a digital signature and cybersecurity solutions provider, participated in Anand Rathi's G-200 Summit investor conference scheduled for September 21, 2026 in Mumbai. The event serves as a platform for listed companies to engage with institutional investors, with eMudhra using the opportunity to enhance visibility and provide updates on its strategic direction.
- Anand Rathi Advisors (Book Running Lead Manager)minorAnand Rathi Advisors and Intensive Fiscal Services served as Book Running Lead Managers (BRLMs) for TMC Transformers' Rs 550 crore IPO. This represents Anand Rathi's investment banking arm supporting IPO execution for mid-market companies.
Scale indicators9 records
Recent moves11 records
Expansion highlights6 records
AnandRathi competitors and assessment
Company assessmentDirect peers
- Motilal Oswal Financial Services: Indian listed full-service brokerage and wealth manager with equity broking, PMS, investment banking and institutional research. Closely comparable to AnandRathi in business mix, listed status, and Tier 1-3 distribution strategy.
- IIFL Securities: Indian listed brokerage offering equity/derivative trading, mutual fund distribution, IPO and wealth services via digital and partner channels. Directly comparable to AnandRathi's integrated retail broking + wealth platform.
- Sharekhan: Indian retail brokerage owned by BNP Paribas offering equity, derivatives, mutual funds and IPO services via digital platforms and a large franchisee/partner network. Comparable hybrid digital-plus-partner model to AnandRathi.
- Geojit Financial Services: Indian listed retail brokerage and wealth manager with multi-asset offerings across equities, mutual funds and PMS, particularly strong in South/West India. Comparable full-service retail brokerage profile to AnandRathi.
Broad incumbents
- ICICI Securities: Large Indian listed brokerage and investment bank (part of ICICI Group) with broad retail and institutional offerings across broking, wealth and IB. Comparable product breadth but with materially larger scale and parent-bank distribution.
- HDFC Securities: Subsidiary of HDFC Bank offering retail broking, mutual funds, IPO and research. Comparable in product scope to AnandRathi but benefits from HDFC Bank's captive customer base and balance sheet.
- Kotak Securities: Kotak Mahindra group brokerage offering equity, derivatives, mutual funds and IPOs via digital platforms. Comparable multi-asset brokerage, supported by deep parent-bank customer relationships.
- Axis Securities: Axis Bank's brokerage arm offering retail trading, mutual funds, IPO and research with strong cross-sell from the parent. Comparable in retail brokerage profile but with captive bank-led distribution.
Emerging players
- Zerodha: India's largest discount broker with a digital-only, low-commission model built around Kite and Coin. Competes directly with AnandRathi's self-serve platforms on pricing, while AnandRathi differentiates via AP network and full-service offering.
- Groww: Leading Indian discount broker and mutual fund platform with strong retail onboarding. Represents the digital-first competitive pressure on AnandRathi's retail brokerage economics, especially among younger investors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
AnandRathi social profiles
Digital presenceAnandRathi compliance and trust
Trust signalCompliance10 records
AnandRathi financial estimates
Financial estimateRevenue estimate
Valuation estimate
AnandRathi leadership team
Management profileNumber of profiles
Profiles2 records
AnandRathi subsidiaries and ownership
Company hierarchySubsidiaries6 records
AnandRathi funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AnandRathi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AnandRathi
What does AnandRathi do?
Anand Rathi Share and Stock Brokers Ltd. is an Indian financial services firm offering equity and derivatives broking, mutual fund distribution (5,000+ schemes), IPO distribution and book-running, Portfolio Management Services (PMS), Alternative Investment Funds (AIF), Margin Trading Facility (MTF), Investment Baskets, fixed income, commodity trading, insurance broking, and NRI investing. These services are delivered through proprietary platforms (TradeMobi, TradeXpress, AR Invest, Algozy, AR MF), a 2,500+ Authorised Person partner network, and SEBI-registered operations across BSE, NSE, MSEI, MCX and NCDEX.
Is AnandRathi a public or private company?
AnandRathi is a public company. It is classified as public and is currently operating.
When was AnandRathi founded?
AnandRathi was founded in 1991. It employs 1,001 to 5,000 people.
Where is AnandRathi based?
AnandRathi is headquartered in Mumbai, India, in the Asia region.
How does AnandRathi make money?
Six revenue lines are on record. Brokerage & Trading Revenue is the primary driver. The others are margin Trading Facility (MTF), mutual Fund Distribution & Advisory, IPO & New Issues Distribution, net Interest Income and fixed Income & Bonds Distribution.
Who are AnandRathi's main competitors?
Direct peers on record are Motilal Oswal Financial Services, IIFL Securities, Sharekhan and Geojit Financial Services. Broad incumbents are ICICI Securities, HDFC Securities, Kotak Securities and Axis Securities. Emerging players are Zerodha and Groww.
Does AnandRathi have an API?
No public API is recorded for AnandRathi.
What industry is AnandRathi in?
AnandRathi's product category is Stock Brokerage & Wealth Management. Its primary akta.pro industry code is FSAAAAAA, Full-Service Retail Brokerage & Wealth Platforms, with a secondary code of FSAEACAJ, Fixed Income Brokerage (Bonds). Its NAICS code is 52315 and its SIC code is 6200.